Chart USD/KRW Update: Extending bounce
Sharply higher as prices extend bounce from the 1440.00 low through resistance at the 1475.00 and 1480.00 congestion area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1510.00 | * | congestion | S1 | 1470.00 | * | congestion | |
| R3 | 1500.00 | * | congestion | S2 | 1460.00 | * | congestion | |
| R2 | 1492.00 | ** | 29 Apr high | S3 | 1455.00 | * | Apr low | |
| R1 | 1490.00 | * | congestion | S4 | 1440.00 | ** | 6 May low, congestion |
Asterisk denotes strength of level
02:30 GMT - Sharply higher as prices extend bounce from the 1440.00 low through resistance at the 1475.00 and 1480.00 congestion area. Nearby see room to the resistance at the 1490.00 congestion and 1492.00 high of 29 April which is expected to cap. Lower high sought to further pressure the downside later with support raised to the 1470.00/1460.00 congestion. Below this will return focus to the downside for retest of 1455.00 and 1440.00 lows and see scope for break to extend losses from the March current year high. Lower will see room to 1430.00 December low and 1420.00, 26 February current year low.